KCA takes barge firm fully on board

KCA Deutag, the Aberdeen oil and gas firm previously known as Abbot Group, has taken full control of a Singapore company that owns barges used in the offshore industry.

KCA, which this year secured a $550 million (337m) refinancing package from share and debt holders, already held a 10 per cent stake in Asian firm Global Tender Barges. The acquisition will add $115m of revenues to KCA's business.